Qualified advisers answering your
Financial Questions
call 0800 092 1245

Is Minerva now in play?

A 50p a share cash offer for UK property company Minerva has certainly put the cat amongst the pigeons in the UK property sector. Only 16 months ago the company was flying high attempting to fight off a £1.60 share cash bid which ultimately fell through. However, since then the company has struggled and the shares have been as low as six pence during this very difficult economic period in the UK. So will the company be taken over?

The 50p a share cash offer has been tabled by an African financier who is obviously looking to gain exposure to the UK market at what many believe is a rock bottom price. As a consequence, the 31% premium to the closing price of Minerva shares on Monday may not look too generous in the short term. However, it seems almost inevitable that if any other offers were to materialise for Minerva they will come from overseas bidders who are taking advantage of the weak UK currency.

Many people believe this is the first of what could be a number of bid approaches in the UK property sector, with many shares still in the doldrums amid signs that UK banks are unwilling or unable to provide significant capital in the short term. There is even a feeling that some UK property companies, quoted on the UK stock market, could well be in danger of breaching banking covenants and becoming insolvent.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details